– Gov’t calls on opposition, stakeholders to provide feedback urgently

THE Government of Guyana on Thursday announced that Srinath Ispat Limited, a firm based in India with extensive knowledge of the sugar industry, will be in Guyana from Monday, January 23, 2017 to have dialogue with the Guyana Government on possible investments in the Guyana Sugar Corporation (GuySuCo). In a statement to the media, the Ministry of Agriculture said that cash-strapped GUYSUCO has been for a number of years requiring constant bailouts from the state and since taking office, the APNU+AFC administration has been exploring avenues to attract new markets and possible investments.
“The delegation, which will be led by Mr Rajesh Kumar Agarwal, President of Integrated Casetech Consultants PV T. LTD and Mr Tony Joseph, Managing Director of Sunrise Holdings, will visit the major sugar estates, prior to having meetings with the Government,” the statement said.
During the one- week visit to Guyana, the delegation will meet with Prime Minister Moses Nagamootoo and other ministers, as well as senior officials of the sugar company.
Meanwhile, the government has expressed concern over the slothfulness in which consultations among it, the opposition, GUYSUCO and unions on the future of the industry are progressing. According to the Ministry of Agriculture, consultations began on December 31 and all stakeholders were presented with proposed options for GUYSUCO and have undertaken to study the documents and the implications after which submissions of additional ideas would be put forward to expand the range of options.
The stakeholders have agreed to provide their feedback in a timely manner, but this has not been done.
“The Government is at this stage concerned, that no response has been provided by the Opposition or the unions, which could be tabled for consideration.
It is important that the process of consultations be condensed, particularly since there are significant financial, economic and social implications attached to an extended delayed process for consultations,” the statement said.
GuySuCo has requested G$18 B from the Government for 2017. However, the National Assembly had approved only $G9B, of which G$ 3B has already been disbursed and utilised by GuySuCo. The remaining G$ 6 B is due for disbursement in March, 2017.
“Recommendations on the financing of the deficit have been made by GuySuCo for consideration and a decision is urgently awaited.
“It is evident, in view of the amount of its financial commitments, unless a decision is made on the future of GuySuCo, the cash-strapped corporation will only continue to be a liability to the Government,” the Ministry of Agriculture added.
The Government of Guyana has presented a number of alternatives to keep the corporation afloat, including diversification of its activities, which have been shared with stakeholders. However, it believes that If a decision is not made on the way forward as a matter of urgency, then “the future of the sugar industry would be jeopardised.”